Homes are only insured for the replacement cost of the home. Most of the value in homes are tied to the land. So while your home may be worth 1 million plus to sell or buy it would not be insured for that amount. If it is a 3000 square foot home, it would probably be insured at about 100 to 150 per square foot to rebuild. or 300 to 450K max. That would include such items as Debris removal, REntal Home etc. Property contents are typically insured for a % plus any riders for things such as expensive rugs, gun collections, jewelery etc.
With respect to having to insure the care with Farmers I am going to raise the Bull shit flag. There is nothing that would require this. It may make sense because you are eligible for a multi line discount. If you are underinsured on your life, that too would provide you with additional discounts. But it pays to shop around if you know what you are doing. If you have a good driving record and your cars are not exotic in nature I suggest getting a quote from Wawanesa or Amica,
